Section 12
SEC. 12. Subsection (b) of section sixty-five of said Act is hereby amended to read as follows: "(b) All licenses and privilege taxes shall terminate on the thirty-first of December of each year, and anyone beginning a business or exercising a privilege upon which a tax is levied by the council after the thirty-first of December shall be required, before beginning such business or exercising such privilege, to pay the license or tax for the quarters of the year which remain, to and including the thirty-first of December following. But all licenses and privilege taxes may be paid in quarterly installments without penalty during the first ten days of the quarter, at the election of the licensee: Provided, That the provisions of this subsection shall not be effective until July first, nineteen hundred and eight, and that the licenses and privilege taxes due for the month of June, nineteen hundred and eight, shall lie payable, without penalty, during the first ten days of the following July."